Entertainment

CrowdIQ - Build Your Own Prediction Market

I'm fascinated by networks, communities and markets. So excuse me while I bring up yet another fantasy prediction market. CrowdIQ is doing much the same thing as Inkling, but this time you can set up your own prediction markets around a topic. From the site:

CrowdIQ allows you to make your own market and create your own contracts so that you can directly leverage the intelligence of the crowd. Rather than the contract content coming from the market owners, CrowdIQ allows you to become the market owner so that you can produce and manage your own contract content. There is no software to purchase and download, no consulting services, and no technology commitment.

I've already expressed my conclusions on prediction markets, but to recap: markets are only profitable if you can get a piece of every transaction. That means there needs to be real money involved somewhere, even if it's not a literal betting exchange. Yes, you can license your prediction software to businesses, but ultimately this model won't see the same (huge!) returns as real-money exchanges like Tradesports.

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